The Hungarian arm of Austrian retailer SPAR has denied press reports earlier this week that it was to close stores in Hungary, but UK-based Tesco will not stop at shutting 13 stores in Hungary, daily newspaper Magyar Nemzet reported on Friday. 

Local business news site hvg.hu reported on Thursday that SPAR was planning to close 9 to 12 stores in Hungary. SPAR’s communications director has denied the speculation to Magyar Nemzet and said the company was actually planning to open new stores. 

Source: www.portfolio.hu